新法出击！新加坡加码护航运输业

新加坡交通部长徐芳达在国会提出交通领域（关键企业）法案二读，并回答议员提问。

以下内容为新加坡眼根据国会英文资料翻译整理：

交通领域（关键企业）法令二读（1）

徐芳达（交通部长）：议长先生，我谨提出动议：“本法案现在予以二读”。

连通性对新加坡和我们的经济至关重要。许多新加坡人的日常活动都依赖公共交通。2023年，我国每天有700多万人次乘坐公共巴士和地铁，为全国数百万乘客提供服务。我们也依靠我们的海空交通来运送必需品，支持我们的工业增长，并将新加坡人与世界其他地区联系起来。

去年，樟宜机场接待了约5900万名旅客。目前，我们通过近120家航空公司与约420个城市相连。作为世界上最繁忙的港口之一，我们的海运枢纽是全球供应链的关键节点。我们的港口与全球 600 个港口相连，2023 年，我们的集装箱吞吐量达到了 3,900 万个 20 英尺等量单位的新高。

我们与世界的连接不仅在和平时期至关重要。在COVID-19大流行期间，正是由于我们与区域内外的紧密联系，新加坡才能接收和发送关键物资，包括食品和医疗必需品。在新加坡，我们通过保持公共交通服务的正常运行，努力维持互联互通，使我们的重要工作人员能够继续上班，抗击危机，维持国家的运转。

如果没有在任何时候和任何情况下，包括在危机期间，安全可靠地提供必要的海陆空运输服务，就无法取得所有这些好处。议长先生，因此，今天提出的法案，旨在制订措施，加强新加坡基本运输服务的应变能力，并奠定基础，保障新加坡的基本运输公司，免受日后可能出现的干扰。我们的目标是帮助新加坡为将来可能发生的极端情况做好准备，以便我们能够应对这些风险。

例如，我们不能排除恶意行为者获得控制权并对我们的主要运输实体产生不利影响的风险，从而危及新加坡基本运输服务的提供。我们与运输生态系统中的公司建立了牢固的关系，并在和平时期和危机（如 COVID-19 大流行病）期间与它们密切合作，为新加坡提供安全、可靠和高效的服务，我们希望确保他们未来几年继续这样做。

我们并不是唯一一个采取行动保障基本运输服务的国家。其他国家也采取了措施保护其战略资产。2021 年，英国通过了《国家安全与投资法》，允许政府干预某些可能损害英国国家安全的收购行为。在美国，2018 年通过了《外国投资风险审查现代化法案》，扩大了美国外国投资委员会的管辖权，以解决对外国投资美国公司或业务日益增长的国家安全担忧。

[副议长迪舒沙主持会议］

新加坡已经制定了相关法规来保护我们的一些重要部门。例如，《银行法》和《电信法》规定，在获得持牌人一定比例的股份或投票权之前，以及在任命首席执行官等关键人员之前，必须获得批准。《电力法》和《公用事业法》也提供了类似的杠杆，以保障新加坡电力和水的管理和供应，确保这些供应始终可用。

最近，贸工部通过了《重大投资审阅法》（SIRA），为政府提供了一套最新的监管手段，以管理对关键实体的重大投资所带来的威胁。同样，交通部（MOT）也希望提出一些措施，以确保我们的重要交通系统现在和将来都能有效地为新加坡和新加坡人服务。

副议长先生，请允许我解释一下，为什么我们要通过本法案引入一个针对具体运输部门的监管框架，该框架在海陆空运输部门都是一致的，而不是通过像《重大投资审阅法》这样一个基础广泛的立法。针对特定行业的方法，能让我们更好地为新加坡的运输生态系统定制所需的监管，并在这些目标与对运输实体及其投资者的商业和业务影响之间取得平衡。

因此，我们在设计我们的规章时，采取了有针对性的方式。拟议的《法案》并不寻求对我们各实体日常运营的标准和绩效进行监管。相反，它旨在保护主要运输实体免受恶意行为者对这些实体施加不当影响的风险，并确保这些实体作出的商业决策不会危及它们在新加坡提供基本运输服务的能力。

一些实体可能参与提供运输以外的其他服务，如餐饮或广告服务。本法案的重点不是监管这些服务，而是针对实体中直接在新加坡提供基本运输服务的部分。

此外，我们也认识到不同的实体在提供一系列服务方面扮演着不同的角色。自去年以来，交通部一直在与主要运输实体接触，以更好地了解如何切实执行法规。我们在设计本法案时采纳了他们的反馈意见，并考虑到了商业影响。因此，交通部将根据各实体的角色、责任和职能，对一些管制措施加以区分，我将在稍后的发言中详细阐述。

最后，本法案旨在统一我国交通运输业的法律，减轻各实体在发展过程中的监管负担，并使新加坡交通运输生态系统中的商业和投资管制更加一致。本法案旨在引入一个涵盖海陆空运输持牌人和非持牌人的共同制度，以实行一套一致的监管措施，并为各实体创造一个透明和可预测的监管环境。

副议长先生，我现在讲述本法案的要点。《交通领域（关键公司）法案》对下列法案进行了修订：《巴士服务业法令》（BSI Act）、《新加坡民航局法令》（CAAS Act）、《新加坡海事与港务管理局法令》（MPA Act）和《快捷交通系统法令》（RTS Act）。

这些法令经修订后，将继续由这些法令的相关主管部门，即新加坡民航局（CAAS）、新加坡陆路交通管理局(LTA)和新加坡海事与港务管理局（MPA）负责管理。这些机构还将负责指定框架下的相关实体。

请允许我解释一下我们计划如何将受影响的实体分类。副议长先生，本法案并非打算适用于在新加坡提供运输服务的所有机构。相反，我们将采取有针对性的方法，对运输部门内符合以下标准的实体进行管制：首先，它们参与提供空中、陆地或海上运输部门的基本运输服务；其次，它们在该部门内具有战略重要性，例如，如果它们提供的服务因占据重要市场份额或具有专门技术而不容易被取代。

本法案第 3、19、30 和 47 条以及新的附表列出了新加坡海陆空运输网络所需的主要服务，从而确定了每个行业中“基本运输服务 ”的定义。在陆路方面，我们打算包括公共巴士和地铁服务等。在航空方面，我们计划包括樟宜机场的机场和地勤业务以及客运和货运航空服务等。在海运方面，我们计划包括港口和海运服务及设施，以及支持海上运输的服务，如供水和加油。

本法案第 8、23、33 和 52 条增加了一些条款，授权监管当局指定在新加坡参与提供基本运输服务的实体。如果实体直接在新加坡提供任何必要的运输服务，并且在该行业中具有重要战略意义，则可被指定为”指定经营实体”；如果实体持有指定经营实体的股权，并且对其作为指定经营实体的子公司有很强的控制联系，则可被指定为“指定股权持有人”。

这是因为这些个人或组织可能会影响与新加坡提供基本交通服务有关的关键决策。在我余下的发言中，我将把“指定经营实体 ”和“指定股本权益持有人 ”统称为“指定实体”，否则会很拗口。

指定程序会在法案通过并生效后展开。如果议会批准该法案，我们打算在今年年底前指定相关企业。指定通知将指明指定公司的日期，并将在指定日期前至少 14 天在公报上公布。《巴士服务法令》新增的第 28E 条、《新加坡民航局法令》新增的第 64 条、经修订的《新加坡海事与港务管理局法令》第 86D 条以及《快捷交通系统法令》新增的第 21E 条对此均有规定。

该法案将在四个法案中引入三个方面的立法杠杆：所有权控制；管理层任命控制；以及运营和资源配置控制。

公司所有权允许各方对公司的方向、管理和决策施加影响。该法案将通过以下要求，允许相关部门对指定实体实际控制权的重大变化进行监督：任何人成为指定企业 5%的控制人，即我们认为某人是公司大股东时，必须在成为 5%控制人后七天内通知相关部门。

任何人如打算成为或不再成为指定企业 25%、50% 或 75%的控制人，必须征得有关当局的批准。在这些持股水平上，控制人对公司拥有重大影响力，如通过和阻止普通决议和特别决议的能力。此外，以下情况也必须征得相关部门的批准：

第一，任何人打算成为间接控制人，即能够对指定实体的董事或受托管理人施加控制的人；或者，任何人打算收购指定经营实体与提供基本运输服务有关的任何部分业务，并在不中断的情况下继续经营。这样做是为了让有关当局对该实体或其部分的所有收购进行监督，无论其服务规定是否有重大变化。

最后，指定实体必须在意识到我刚才描述的任何所有权变化后七天内通知有关当局。

第二套管制措施涉及指定实体对管理层的任命。这些管制措施使有关当局能够随时了解负责管理我们重要运输公司的关键人员的变动情况，以及影响继续提供必要运输服务的业务情况。

本法案将规定，指定实体须就其行政总裁及董事会主席的委任，征求有关当局批准；而同时为持牌人的指定营运实体，则须就其行政总裁、董事会主席及所有董事的委任，征求有关当局批准。

最后，本法案将引入对运营和资源配置的控制，以确保公司在任何情况下，包括危机时期和每个行业发生重大变化时，都有能力运营其服务。我们建议，指定实体应在出现重大事态发展或事件时通知各自的主管部门，以便相关主管部门随时了解可能严重妨碍或损害新加坡基本运输服务的事件，并能在必要时尽早采取缓解措施。

虽然目前各部门的许可制度也可能包括通知要求，但本法案将所有运输部门对指定实体的通知要求编纂成法。该法案将要求指定实体向有关当局通报此类事件，例如，如果指定经营实体将在新加坡提供基本运输服务的重要职能外包，或如果它们面临可能损害或阻碍在新加坡提供基本运输服务的重要事件或法律诉讼，类似的这类事件，将有所约束。

为帮助公司遵守这些要求，相关部门将在法案获得国会批准并生效后发布一套咨询指南。这些咨询准则将为这些通知要求提供实际指导。我们已在本法案第 13、25、41 和 55 条对此作出规定。

其次，该法案增加了一些条款，通过特别行政令，扩大相关部门的介入权力，以涵盖海陆空运输部门的指定经营实体和持证人。这是为了在极端情况和不大可能发生的事件中保障服务的连续性，例如指定经营实体或持牌人无法安全可靠地提供必要的运输服务。

目前，有关当局可以向持牌者发出特别管理令，作为极端情况下的保障措施。本法案所赋予的介入权力，范围与此相似，即适用于在新加坡直接提供基本运输服务的指定经营实体，但这些实体并非持牌人。

副议长先生，我想向各位议员保证，行使介入权力是处理极端的情況的最的手段。这些权力旨在保障新加坡基本交通服务的提供。举例来说，当某个指定经营机构无力偿债，以致无法继续提供基本运输服务时，我们便会行使介入权力。我们不会干预这些实体在正常业务过程中的商业运作和事务。

如果我们需要使用拟议的介入权力，我们将明智地行使这些权力，而且只在需要的期限内行使。该法案中《巴士服务法令》新增的第 33E 条、《新加坡民航局法令》新增的第 75 条、《新加坡海事与港务管理局法令》新增的第 89B 条以及《快捷交通系统法令》新增的第 27D 条，更新了现行法律中的相关规定。例如，《法案》将规定发布辅助指令，明确介入令的生效期限以及其他相关条件，以便在行使介入权时实现介入令的目的。

最后，业务连续性规划要求。该法案赋予民航局对航空运输部门指定运营实体的业务连续性规划提出要求的权力。它们不适用于指定的股权持有人。该法案不包括对陆上和海上运输部门指定经营实体的这些要求，因为我们可以通过许可证条件对其进行类似的要求。

我现在谈谈法案的一般及杂项条文，法案容许有关当局就违反与拥有权和管理层委任等有关的管制发出补救指示。这些补救指示可包括在事前未征得批准或违反批准条件的情況下，指示处置股本权益及罢免主要委任人士。

法案将采用以下惩罚措施来执行该制度。我们已规定了对违反任何控制的处罚。包括与所有权、管理层任命和某些事件的通知要求有关的批准条件、违反任何补救指示，以及不遵守特別行政令所规定的职责。

处罚措施将参照现行法案的处罚措施，并考虑到各部门的经营环境。经修订的《巴士服务法令》第 41 条、《新加坡民航局法令》新增的第 67K 条、《新加坡海事与港务管理局法令》新增的第 86HD 条以及《快捷交通系统法令》新增的第 28 条规定了针对相关部门作出的某些决定向部长提出上诉的途径，包括指定实体、拒绝给予控制所有权或管理任命所需的批准以及发布补救指令。

副议长先生，我想强调一点，交通部将会在委员会审议阶段提出修正通知书，以处理两项起草变更问题。首先，我们要求修订第39 条，以刪除《新加坡海事与港务管理局法令》新订的第 86HB 条第(3)款，因为根据该条第(2)款的规定，第(3)款并无必要。其次，我们建议对第 19 条作出技术性修订，使分段的编号与现行法案的草拟方式一致。

副议长先生，新加坡的连通性是我们最大的资产之一，我们必须继续小心维护，以保护新加坡和新加坡人的利益。我们将以审慎和有针对性的方式，在对我们的运输业有用和实际可行，以及尽量减少对公司和投资者的商业和成本影响之间取得平衡。我們会继续与业界及有关人士紧密合作，以实施这基法案。议长先生。我谨提出以上动议。

以下是英文质询内容：

TRANSPORT SECTOR (CRITICAL FIRMS) BILL（1）

Order for Second Reading read.

The Minister for Transport (Mr Chee Hong Tat): Mr Speaker, I beg to move, “That the Bill be now read a Second time”.

Connectivity is essential to Singapore and our economy. Many Singaporeans rely on public transport for our daily activities. In 2023, we had over seven million daily rides on our public buses and trains, serving millions of commuters across the country. We also rely on our air and sea connectivity to bring in essential goods, support the growth of our industries and connect Singaporeans with the rest of the world.

Last year, Changi Airport served about 59 million passengers. We are now connected to about420 cities through almost 120 airlines. As one of the busiest ports in the world, our maritime hub is a key node in global supply chains.Our port is linked to 600 ports around the world and in 2023, our container throughput reached a new high of 39 million, 20-foot equivalent units.

Our connectivity to the world is critical not just during peacetime. During the COVID-19 pandemic, it was our strong connectivity to the region and beyond that allowed Singapore to receive and send out critical supplies, including food and medical essentials. Within Singapore, we worked hard to maintain connectivity by keeping our public transport services running, so that our essential workers could continue to go to work to fight the crisis and keep the country going.

All these benefits cannot be achieved without the safe and reliable provision of essential air, land and sea transport services at all times and under all circumstances, including during a crisis. Sir, the proposed Bill today therefore aims to put in place measures to enhance the resilience of essential transport services in Singapore and set the foundations to protect Singapore against possible future disruptions to our essential transport firms.Our objective is to help Singapore prepare for possible extreme scenarios that may happen in future, so that we are ready for these risks.

For example, we cannot rule out the risk of malicious actors gaining control and adversely influencing our key transport entities, jeopardising the provision of essential transport services in Singapore. We have built strong relationships with the firms in our transport ecosystem and worked closely with them during peace time and crises, such as the COVID-19 pandemic, to provide safe, reliable and efficient services for Singapore, and we want to make sure that they continue to do so in the years ahead.

We are not alone in making moves to safeguard our essential transport services. Other countries have taken steps to protect their strategic assets too. In 2021, the United Kingdom (UK) passed the National Security and Investments Act, which allows the government to intervene in certain acquisitions made that could harm the UK's national security. In the United States (US), the Foreign Investment Risk Review Modernisation Act was passed in 2018 to expand the jurisdiction of the Committee on Foreign Investment in the US, to address growing national security concerns over foreign investment in US companies or operations.

[Deputy Speaker (Mr Christopher de Souza) in the Chair]

Singapore already has regulations in place to safeguard some of our essential sectors. For example, the Banking, and Telecommunications Acts require approval to be sought before a person acquires a certain percentage of shares or voting power in a licensee; and prior to the appointment of key personnel, such as the chief executive officer (CEO).The Electricity, and Public Utilities Acts also provide similar levers to safeguard the management and provision of electricity and water in Singapore, to ensure that these supplies always remain available.

More recently, the Ministry of Trade and Industry passed the Significant Investments Review Act, or SIRA, which provides the Government with an updated set of regulatory levers to manage threats posed by significant investments into critical entities. Likewise, the Ministry of Transport (MOT) would like to propose measures to ensure that our essential transport systems are able to serve Singapore and Singaporeans effectively, now and in the future.

Mr Deputy Speaker, please allow me to explain why we are introducing a transport sector-specific regulatory framework through this Bill, which is consistent across the air, land and sea transport sectors, instead of going through a broad-based legislation like SIRA. A sector-specific approach can better allow us to customise the regulatory oversight needed for Singapore's transport ecosystem and balance these objectives with the commercial and business impact on our transport entities and their investors.

We have, therefore, designed our regulations in a calibrated and targeted manner. The proposed Bill does not seek to regulate the standards and performance of our entities' day-to-day operations. Rather, it seeks to protect key transport entities against the risk of malicious actors exerting undue influence over these entities and ensure that commercial decisions made by the entities do not jeopardise their ability to provide essential transport services in Singapore.

Some entities may be involved in the provision of other services outside of transport, such as food and beverage (F&B) or advertising services. The Bill will not focus on regulating these services; instead, it is targeted at the parts of the entity that directly provide essential transport services in Singapore.

In addition, we also recognise that different entities play different roles to deliver a range of services.Since last year, MOT has been engaging the key transport entities to better understand how regulations can be practically implemented. We have taken in their feedback when designing this Bill and we are mindful of the commercial impact. MOT will, therefore, differentiate some controls based on entities' roles, responsibilities and functions, which I will elaborate in a later part of my speech.

Finally, the Bill serves to harmonise our laws across the transport sector, to reduce the regulatory burden on entities as they evolve, as well as provide greater consistency on commercial and investment controls in the Singapore transport ecosystem.This Bill seeks to introduce a common regime covering both licensees and non-licensees across air, land and sea transport, to apply a consistent set of regulatory controls and to create a transparent and predictable regulatory environment for entities.

Sir, I will now go into the key features of the Bill. The Transport Sector (Critical Firms) Bill makes amendments to the following Acts: the Bus Services Industry Act, or BSI Act; the Civil Aviation Authority of Singapore Act, or CAAS Act; the Maritime and Port Authority of Singapore Act, or MPA Act; and the Rapid Transit Systems Act, or RTS Act.

After they are amended, these Acts will continue to be administered by the relevant authorities of these Acts, namely CAAS, the Land Transport Authority of Singapore (LTA) and MPA. These authorities will also be responsible for designating relevant entities under the framework.

Please allow me to explain how we plan to classify the affected entities. Sir, the Bill is not intended to apply to every entity which provides a transport service in Singapore. Instead, we will take a targeted approach by regulating entities within the transport sector that meet the following criteria: first, they are involved in the provision of essential transport services in the air, land or sea transport sectors; and second, they are strategically important within the sector, for example, if the services they provide are not readily replaceable due to significant market share or specialised expertise.

Clauses 3, 19, 30 and 47, together with the new Schedules, set out the definitions for an "essential transport service" under each sector, by listing out the key services necessary for Singapore's air, land and sea transport networks. For land, we intend to include, among other things, public bus and rail services. For aviation, we plan to include, among other things, airport and ground-handling operations and passenger and cargo air services at Changi Airport. For maritime, we plan to include, among other things, port and marine services and facilities, as well as services which support the provision of sea transport, such as water supply and bunkering.

Clauses 8, 23, 33 and 52 of the Bill insert provisions empowering the regulatory authorities to designate entities that are involved in the provision of essential transport services in Singapore. Entities can be designated as a "designated operating entity", if they directly provide any essential transport service in Singapore and are strategically important within the sector; or a "designated equity interest holder", if they hold an equity interest in a designated operating entity and have a strong nexus of control over their subsidiaries that are designated operating entities.

This is because such individuals or organisations may influence key decisions related to the provision of essential transport services in Singapore. For the rest of my speech, I will be referring to both "designated operating entities" and "designated equity interest holders" collectively as "designated entities", otherwise, it will be quite a mouthful.

The designation process will be initiated after the Bill is passed and the law is brought into force. We intend for the relevant firms to be designated by the end of this year, if Parliament approves the Bill. The notifications of designations will specify the date on which designation of a company takes place and will be published in the Gazette at least 14 days before the date that designation takes place. This is provided for in the new section 28E of the BSI Act; the new section 64 of the CAAS Act; the amended section 86D of the MPA Act; and the new section 21E of the RTS Act.

The Bill will introduce legislative levers across the four Acts in three aspects: ownership controls; management appointment controls; and operations and resourcing controls.

Ownership of a firm allows parties to exercise influence over its direction, management and decisions. The Bill will allow relevant authorities to have oversight of significant changes in effective control of designated entities, through the following requirements: any person who becomes a 5% controller of the designated entity, which is when we consider a person to be a substantial shareholder of a company, must notify the relevant authorities within seven days after becoming a 5% controller.

Any person who intends to become or cease being a 25%, 50% or 75% controller of the designated entity must seek the relevant authority's approval. At these levels of shareholding, controllers hold significant influence over a company, such as the ability to pass and block ordinary and special resolutions. In addition, the relevant authority's approval must be sought for: first, any person intending to become an indirect controller, meaning someone that is able to exert control over the directors or trustee managers of the designated entity; or, any person intending to acquire and continue operating without disruption, any part of the designated operating entity's business relating to the provision of essential transport services. This is to provide the relevant authority with oversight over all acquisitions of the entity or parts of the entity, regardless of whether there are significant changes to its service provisions.

Lastly, designated entities must notify the relevant authority within seven days after becoming aware of any of the ownership changes which I just described.

The second set of controls pertain to the appointment of management by designated entities. These controls allow the relevant authorities to be kept apprised of changes to the key personnel responsible for the management of our critical transport firms, as well as operations affecting the continued provision of the essential transport service.

The Bill will require designated entities to seek the relevant authority's approval for the appointment of its CEO and Chairperson of its board of directors; and designated operating entities who are also licensees to seek the relevant authority's approval for the appointment of its CEO, Chairperson, as well as all directors of its board.

Lastly, the Bill will introduce controls over operations and resourcing, to ensure that companies are equipped and able to operate their services under all circumstances, including times of crisis and in the event of significant changes within each sector. We propose that designated entities should notify their respective authorities as and when there are material developments or events, so that the relevant authorities are kept aware of events that could materially impede or impair the provision of essential transport services in Singapore and are able to take mitigation measures early and as needed.

While current licensing regimes for each sector may also include notification requirements, this Bill codifies the notification requirements across all transport sectors for designated entities.The Bill will require designated entities to notify the relevant authority of such events, for example, if a designated operating entity outsources a material function in providing essential transport services in Singapore, or if they face material events or legal proceedings that may impair or impede the provision of essential transport services in Singapore. This list of events will be circumscribed.

To help companies comply with these requirements, the relevant authorities will issue a set of advisory guidelines after the Bill is approved by Parliament and comes into effect. These advisory guidelines will provide practical guidance for these notification requirements. We have provided for this by clauses 13, 25, 41 and 55 of the Bill.

Next, the Bill inserts provisions extending the relevant authority's step-in powers, via a Special Administration Order, to cover designated operating entities and licensees across the air, land and sea transport sectors. This is to safeguard service continuity in extreme scenarios and unlikely events, such as where a designated operating entity or licensee becomes unable to provide essential transport services safely and reliably.

Currently, the relevant authorities could issue Special Administration Orders to their licensees, as a safeguard in extreme scenarios. The step-in powers in this Bill are similar in scope, in that they extend to designated operating entities that directly provide essential transport services in Singapore, but are not licensees.

Sir, I wish to assure Members that step-in powers will be exercised as a last resort to deal with extreme scenarios. They are meant to safeguard the provision of essential transport services in Singapore. For example, this could include when a designated operating entity becomes insolvent and unable to pay its debts and this, in turn, jeopardises the continued provision of essential transport services. We will not intervene in the commercial operations and affairs of the entities in the normal course of business.

If we need to use the proposed step-in powers, we will exercise them judiciously and only for the period which they are required for. The new section 33E of the BSI Act, the new section 75 of the CAAS Act, the new section 89B of the MPA Act and the new section 27D of the RTS Act in the Bill update the related provisions in existing Acts.For example, the Bill will provide for the issuance of ancillary directions, to specify the period in which the step-in order will take effect and other relevant conditions to achieve the purposes of the order when step-in powers are exercised.

Finally, business continuity planning requirements.The Bill introduces the power for CAAS to impose requirements for business continuity planning for designated operating entities in the air transport sector. They will not apply to designated equity interest holders. The Bill does not cover these requirements for designated operating entities in the land and sea transport sectors, as we can subject them to similar requirements via licence conditions.

Let me now touch on the general and miscellaneous provisions under the Bill. The Bill will allow the relevant authorities to issue remedial directions for breaches of controls relating to ownership and management appointments, among others. These remedial directions could include directing the disposal of equity interest and removal of key appointment holders, if prior approval was not sought or if conditions of approval were breached.

The Bill will employ the following penalties to enforce the regime. We have specified penalties for the breach of any control, including conditions of approval, relating to ownership, management appointments and notification requirements for certain events, the breach of any remedial direction as well as non-compliance with duties under a Special Administration Order.

The penalties will take reference from penalties under existing Acts, which take into account the operating environments within each sector. The amended section 41 of the BSI Act, the new section 67K of the CAAS Act, the new section 86HD of the MPA Act and the new section 28 of the RTS Act provide for avenues of appeal to the Minister against certain decisions made by the relevant authorities, including the designation of an entity, refusal to grant approvals required for controls over ownership or management appointments and the issuance of remedial directions.

Sir, I would like to highlight that MOT will be moving a Notice of Amendment during the Committee stage to address two drafting changes.First, we seek to amend clause 39 to remove subsection (3) of the new section 86HB of the MPA Act as it is not necessary in view of subsection (2) of the same. Next, we propose to make a technical amendment to clause 19 for consistency with the prevailing legislative drafting style for the numbering of sub-paragraphs.

Mr Deputy Speaker, Singapore’s connectivity is one of our greatest assets and something we must continue to safeguard carefully to protect the interests of Singapore and Singaporeans. We shall do so in a calibrated and targeted manner, by striking a balance between what is useful and practical for our transport sector and minimising the commercial and cost impact on companies and investors.We will continue to work closely with the industry and stakeholders on the implementation of this Bill.Sir, I beg to move.